15.09.2004More Favourable Terms on Municipal Bank AD Consumer Loans
New terms and conditions are in force on Municipal Bank AD’s consumer loans as of September 2004. The maximum loan amount is increased from BGN 10,000 to BGN 20,000. The repayment term is extended, varying from 3 to 6 years depending on the type of loan. The amount of the average net family member income required after deducting the monthly repayment installment is decreased from 80% to 70% of the minimum salary. The interests on the loans remain unchanged – the base rate plus a minimum margin of 5 to 9 points depending on the collateral. The loans over BGN 10,000 shall only be collateralised by a mortgage. The Bank offers a free Life insurance to the Borrower.